Excel was first developed for the Macintosh computer in 1984. Windows came into the market in 1987 and Excel became a part of the Microsoft package. It is a spreadsheet with database capabilities that has become a mainstay in financial computing.
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Users must create subset directories for data management. Excel data can be lost when the application is broken down into many files.
Viruses can be attached to an Excel file through macros. Macros are mini programs that are written into an Excel spread sheet.
Excel is a portable application. It can be sent through e-mail and it can be synchronised with PDAs such as Apple's iPhone.
Excel does not need to be customised with financial subsets. The application includes financial modules such as asset appreciation and amortisation.
Excel files can be password protected for extra security. A user can create a password through Visual Basic programming or directly within the Excel file.